The Marlins have not given Reyes any kind of deadline or ultimatum according to Juan C. Rodriguez of The Sun Sentinel (on Twitter). They are prepared to wait him out beyond the winter meetings if necessary.

Mets GM Sandy Alderson did touch base with Reyes' representatives today, reports Joel Sherman of The New York Post (allTwitterlinks). Andy McCullough of The Star Ledger says the team is still waiting for Reyes' side to come back with an offer for them to match, a right they expect to have. The Mets would reportedly offer five years and $80MM, but not a sixth guaranteed year.

Adam Rubin of ESPN New York points out that if Reyes signs with the Marlins, the Mets would only receive Florida's third round pick as compensation. The Marlins' first round pick is protected, and their second rounder is technically going to the Padres since Heath Bell is a higher ranked free agent than Reyes. The Fish will keep their second rounder with a made-up pick going to San Diego, but an MLB official confirmed that it will be treated the same way as previous years.

It does not appear that Reyes will be signing with anyone before the winter meeting start on Monday, reports Newsday's David Lennon (on Twitter).

the marlins could screw both the mets and the padres pretty hard here. both could have gotten way better returns had they traded their players. the new compensation system creates additional picks for several players, rather than simply transfering them to another team. this pushes squeeze & second round picks back even further overall

The Marlins have not given Reyes any kind of deadline or ultimatum…. well how can they? They haven’t exactly offered him 5/100 or 6/120.

Hey if I am the Orioles offer him 5/85 and see what he says. switch JJ Hardy to 2nd base. I think he can make the transition. 5/85 is more than what Beltre got.

I think Reyes is worth the gamble just short of 100 million. If plays the majority of games and helps whichever team that signs him to a World Series, then maybe they could work something out in addition to his orginal contract.

The Marlins are going to be a lot of fun next year. If adding Reyes, Cespedes and an arm like Buehrle or Jackson is a realistic outcome, think they very well will give the wild card a run. Hanley will probably have a huge bounceback year, and hopefully for them the same from Josh Johnson, who can match up with anyone when healthy.

Hey, with Bell gone the Padres could add Reyes as they should have $20-$30 mil available to spend depending on Harang, Hudson, and Bartlett. I realize the Padres won’t do this, but they really have nothing coming up the pipeline at shortstop for several years, unless Cumberlands comeback is quick.

I thought the should of traded him last offseason. The longer you keep him the less value he has but I dont think the Mets think logically. I dont think even think a first round pick is worthy compensation for reyes. They could of received way more in a trade.

Making your deal public with how much money range your offering to Reyes is SO dumb. One, now teams know how to sweep him from underneath your feet ( if they are willing to risk on Reyes ). A team who needs a SS that has money can steal Reyes from you now, especially with no deadline.

He only hustles when he wants to and he did this year because he wanted that new contract. and his amazing ability to recover from injuries, hes the next ripken for sure. 100% sure i would overpay and guarantee 6 years for him.